Jersey City, New Jersey, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Visual Effects (VFX) Market” By Product(Simulation FX, Animation, Modelling, Matte Painting, and Compositing), By Application(Movies, Television, Gaming, Advertisements, and Others), and By Geography. According to Verified Market Research, the Global Visual Effects (VFX) Market size was valued at USD 6,793.60 Million in 2020 and is projected to reach USD 9,776.69 Million by 2028, growing at a CAGR of 5.19 % from 2021 to 2028.
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Global Visual Effects (VFX) Market Overview
Visual effects or VFX refer to special effects that are added to a film or video that cannot be obtained during live- action shot. They are usually used to create environments, objects, animals, and creatures that look real. These visual effects are widely used in TV, movies, gaming, advertisements, and others. They are a very important part of filmmaking as they change they help them to create effects that attract the viewers. Some of the different types of visual effects are simulation FX, motion capture, 3D scanning, concept art, matte painting, and others. VFX with CGI is widely used to produce movies, commercials, games, and television shows.
One of the main factors driving the rise of the global VFX market is the growing demand for high-quality content. With the increasing use of digital video streaming outlets like Amazon Prime Video, Netflix, high-quality content, and VFX are becoming more important. Smart devices like smartphones, tablets, laptops, and HD TVs are increasingly being used to promote the development of digital video streaming services. One of the main factors leading to the development of worldwide VFX development is the introduction of augmented reality (AR). The increasing demand for digital content creates a need for innovation in visual effects for new experiences like AR. Consumers who are increasingly looking for high-definition (HD) VFX experiences will have huge business opportunities in the VFX market in the next few years. However, high investment costs and a lack of skilled and trained professionals will hamper the growth of the global VFX software market.
Key Developments in Visual Effects (VFX) Market
- The Walt Disney Studios announced it will debut its new live-action feature film Artemis Fowl exclusively on Disney+
- Framestore acquired Company 3 / Method, The Company has purchased global post-production and VFX brands Company 3 / Method (C3M) for an undisclosed figure, in partnership with financiers Aleph Capital and Crestview Partners.
The major players in the market are The Walt Disney Co., Framestore Ltd, Cinesite VFX Ltd, Digital Domain Holdings Ltd, and Others.
Verified Market Research has segmented the Global Visual Effects (VFX) Market On the basis of Application, Product, and Geography.
- Visual Effects (VFX) Market, By Application
- Movies
- Television
- Gaming
- Advertisements
- Others
- Visual Effects (VFX) Market, By Product
- Simulation FX
- Animation
- Modelling
- Matte Painting
- Compositing
- Visual Effects (VFX) Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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